Private equity firm KKR wins auction for Unilever’s spreads business

Unilever has received a binding offer from US buyout firm KKR of EUR6.825 billion for global spreads business. The sale of the spreads business represents a further step in reshaping and sharpening the Unilever portfolio of businesses for long term growth according to CEO, Paul Polman. The marketing leading brands, including Flora and I Can’t Believe It’s Not Butter, currently have positive momentum in the market and it is expected that they will continue to develop under KKR’s ownership. The deal is subject to regulatory approvals and employee consultation is expected to complete in mid-2018. The spreads business generates annual revenue of EUR 3 billion and operates across 66 countries.